Hubtown Q1 FY27 results: net profit down 67.7% to ₹26.58 crore, revenue down 17.0%

How did Hubtown perform in Q1 FY27?

Hubtown reported consolidated revenue of ₹155.62 crore for the April–June 2026 quarter, against ₹187.41 crore in Q1 FY26 and ₹160 crore in Q4 FY26. Revenue was down ₹31.79 crore or 17.0% year on year and ₹4.38 crore or 2.7% sequentially. On the standalone basis, revenue was ₹21.22 crore.

Consolidated EBITDA was ₹28.41 crore and the EBITDA margin was 18.3% in Q1 FY27. EBITDA was down ₹12.36 crore or 30.3% from ₹40.77 crore in Q1 FY26, and the margin declined by 3.5 percentage points. Sequentially, EBITDA fell ₹50.07 crore or 63.8% from ₹78.48 crore, with the margin lower by 30.8 percentage points.

Consolidated net profit was ₹26.58 crore, compared with ₹82.21 crore in Q1 FY26 and ₹26.22 crore in Q4 FY26. The year-on-year decline was ₹55.63 crore or 67.7%, while the sequential increase was ₹0.36 crore or 1.4%. Basic EPS was ₹1.75, against ₹5.85 a year ago and ₹1.61 in the previous quarter. Standalone profit was ₹17.71 crore.

What changed in Hubtown's costs and profit?

Total expenses were ₹170.08 crore in Q1 FY27, up ₹7.21 crore or 4.4% from ₹162.87 crore in Q1 FY26. Cost of materials rose ₹49.40 crore or 76.3% to ₹114.12 crore, finance costs rose ₹26.21 crore or 168.3% to ₹41.78 crore, and other expenses increased ₹8.18 crore or 35.8% to ₹31 crore. Employee cost rose ₹2.50 crore or 34.2% and depreciation rose ₹0.43 crore or 65.2%.

Other income was ₹46.86 crore, down ₹0.77 crore or 1.6% from the year-ago quarter. There was no exceptional item. Profit before tax fell ₹39.77 crore or 55.1% to ₹32.40 crore, and tax moved from a ₹9.85 crore credit in Q1 FY26 to ₹5.78 crore of tax expense, contributing to the lower net profit.

Against Q4 FY26, total expenses were higher by ₹2.85 crore, led by depreciation and tax, although cost of materials, employee cost, finance costs and other expenses were lower. Other income rose ₹4.05 crore or 9.5% to ₹46.86 crore. PBT fell ₹3.18 crore or 8.9%, but net profit rose ₹0.36 crore or 1.4%.

How has Hubtown done over the last 8 quarters?

Revenue peaked at ₹208.51 crore in Q2 FY26 and was at ₹155.62 crore in Q1 FY27. It had bottomed at ₹87.59 crore in Q3 FY26 before recovering to ₹160 crore in Q4 FY26 and easing in the latest quarter.

Net profit peaked at ₹82.21 crore in Q1 FY26 and bottomed at ₹1.89 crore in Q4 FY25. It was ₹26.58 crore in Q1 FY27, above ₹26.22 crore in the previous quarter but well below the year-ago peak.

The EBITDA margin reached 61.2% in Q2 FY25 and fell to 2.5% in Q3 FY26. It recovered to 49.1% in Q4 FY26 before declining to 18.3% in Q1 FY27; the latest margin was above the 2.5% trough but below 21.8% in Q1 FY26.

What else did the company announce?

The board approved the unaudited standalone and consolidated results for the quarter ended 30 June 2026 and noted that the statutory auditors had completed a limited review. The company’s insider-trading window for directors, designated employees and connected persons was scheduled to open on 5 August 2026.

The board approved raising funds of up to US$150 million through foreign currency convertible bonds or other equity-linked securities, in one or more tranches and on a private-placement basis. The proposal remains subject to shareholder, regulatory and other statutory approvals; an FCCB committee was constituted to finalise the terms.

Brickwork Ratings’ eighth and final monitoring report said the proceeds from preferential placements of equity shares, convertible debentures and promoter warrants had been fully utilised. The revised proceeds were ₹1,209 crore, down from ₹1,212 crore because one investor did not subscribe to the equity portion, and the agency reported no deviation from the objects of the issue.

What did the auditors point out?

The auditors expressed a qualified conclusion on Hubtown’s standalone unaudited quarterly results, rather than an audit opinion. They said the company had not provided for interest of 528.48 lakhs on certain inter-corporate deposits, which understated finance cost by 528.48 lakhs and consequently increased profit for the quarter.

Apart from that matter, the auditors said their review brought nothing to their attention that caused them to believe the standalone statement did not disclose the information required under Regulation 33 of the listing regulations or contained a material misstatement. The quarterly review was conducted under Standard on Review Engagements 2410 and is substantially less extensive than an audit. The annual report stated that the annual accounts were prepared on a going-concern basis.

What did Hubtown's management say?

Management said the Hubtown 2.0 mergers would expand the ongoing portfolio from 7.13 million square feet to over 34 million square feet, supported by nearly 347 acres of land, with total GDV expected to exceed ₹1 lakh crore over the project life-cycle. It also identified elevated debt costs, market headwinds affecting price escalation, the pace of second-half launches, promoter-share pledges and merger approvals as risks.

How did Hubtown shares react?

Hubtown’s shares initially rose after the after-market filing, gaining 0.4% after 5 minutes, 1.1% after 15 minutes and 2.7% after 30 minutes. The stock closed 2.0% below its pre-results close on the reaction day. By the next day’s close, it was 6.0% below that close, and after five sessions it remained 6.6% lower.

Earlier results-day moves were negative on seven of the eight listed dates, including 6.7% on 14 May 2026, 6.4% on 13 February 2026 and 6.1% on 25 May 2024. The other listed reaction-day move was a 3.6% rise on 13 August 2024.

How did other Residential Commercial Projects companies do?

Among 60 other Residential Commercial Projects companies compared for Q1 FY27, the median revenue growth was 15.9%. Nine peers grew more slowly than Hubtown, while 51 grew faster than Hubtown. Hubtown’s own revenue declined 17.0% from the year-ago quarter.

Of the 60 peers for which profit was compared, 40 reported higher profit. The peer figures are as of 4 November 2026, while Hubtown’s results were announced to the NSE on 3 August 2026.